Novak Construction Acquires Retail Property In Chicago For $29.3M
SOLD
$29,300,000
Illinois
See Similar DealsRetail135,000 SF
Sold 01/11/2022
SOLD
Novak Construction Acquires Retail Property In Chicago For $29.3M
1471 West Webster Avenue, Chicago, IL 60614
See Similar DealsRetail135,000 SF
Sold 01/11/2022
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$217
Total Square Footage:135,000 SF
Transaction Type:Sale
The retail property located at 1471 W Webster Ave in Chicago has been sold in a recent transaction. The property spans 135,000 square feet and was sold for a price of $29,300,000, resulting in a price per square foot of $217. The sale took place on January 11, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $29,300,000
- Square Footage: 135,000
- Address: 1471 W Webster Ave, Chicago
- Market: Chicago
The buyer in this transaction was Novak Construction, while the seller was RPT Realty, represented by Brian Harper. The deal was facilitated by JLL. The sale of this retail property marks a significant transaction in the market, contributing to the ongoing dynamics of the real estate industry in Chicago.
Players
BUYER
BUYER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,562,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$104,096.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$138,896.95
Annual Debt Service$1,666,763.38
Is there something missing? Send suggestions